DAILY USD/CHF TECHNICAL OUTLOOKLast Update At 22 Dec 2015 00:08GMT
Trend Daily Chart
Sideways
Daily Indicators
Falling
21 HR EMA
0.9928
55 HR EMA
0.9930
Trend Hourly Chart
Sideways
Hourly Indicators
Neural
13 HR RSI
50
14 HR DMI
-ve
Daily Analysis
Choppy consolidation to continue
Resistance
0.9991 - Last Thur's high
0.9976 - Last Fri's high
0.9969 - Y'day's high
Support
0.9897 - Y'day's low
0.9864 - 61.8% r of 0.9786-0.991
0.9811 - Last Wed's low
. USD/CHF - 0.9929... Despite intra-day cross-inspired rise to session high of 0.9969 in European morning, the pair later tumbled to intra-day low at 0.9897 after release of downbeat U.S. Chicago Fed activity index b4 recovering.
. Looking at the bigger picture 1st, despite resumption of decline fm 2015 fresh 4-year peak at 1.0330 (Nov) to a 6-week low of 0.9786 at the start of last week, short-covering lifted the pair to 0.9991 on Thur after Wed's quarter-point Fed rate hike. Dlr's rebound fm 0.9786 suggests aforesaid fall fm 1.0330 has made a temporary low n consolidation is expected initially this week for gain twd next chart obj. at 1.0036, however, as hourly indicators would display 'bearish divergences' on such rise, reckon 1.0058 (being 50% r of 1.0330-0.9786) would cap upside n yield another decline. On the downside, below 0.9786 would extend weakness to 0.9701 (50% r of intermediate rise fm 0.9072-1.0330).
. Today, as y'day's breach of last Fri's 0.9912 low signals upmove fm last week's 0.9786 low has made a temp. top at 0.991 (Thur), consolidation with downside bias is seen, reckon 0.9864 (61.8% r of 0.9786-0.9991) would contain weakness n yield rebound but abv 0.9969 needed to signal pullback fm 0.991 is over.
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